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Novatek pledges 2030 climate goals
ENERGY RUSSIAN LNG exporter Novatek has pledged “The present level of our greenhouse gas
TRANSITION to reduce its emissions over the next decade, emissions per barrel of production is already
in line with similar moves by oil and gas firms among the lowest globally due to the use of
across the world. But while some European state-of-the-art technologies and a high share
energy firms have gone as far as to promise to of natural gas in the company’s hydrocarbon
make their operations carbon neutral over the production,” Novatek CFO Mark Gyetvay
next decade, Novatek’s goals will be much easier commented. “We set ambitious targets that will
to accomplish. contribute to the reduction of greenhouse gas Novatek’s goals
Novatek’s board of directors has approved a emissions to meet global climate change initia-
list of 2030 climate goals which are in line with tives, as well as providing affordable, secure and are relatively
Russia’s commitments under the 2015 Paris sustainable, clean-burning natural gas to our
Agreement, the company said on August 25. It customers for many decades. undemanding,
aims to reduce per-unit methane emissions at its Novatek’s goals are relatively undemanding,
production, processing and LNG operations by however, just as Russia’s are. Moscow ratified the however, just as
4%, and air pollutant emissions by 20%. Paris Agreement in September last year, com- Russia’s are.
Novatek plans to reduce greenhouse gas mitting itself to reducing carbon dioxide emis-
(GHG) emissions at its upstream activities by sions by 30% by 2030.
6% and its LNG production facilities by 5%. It While for a major fossil fuel producer like
also wants to boost the rate at which it utilises Russia this sounds like a difficult feat, it is
associated petroleum gas (APG) to 99%, from actually already near to meeting its target, or
83.3% last year. according to some estimates, has already sur-
Novatek leads the 17mn tonne per year (tpy) passed it.
Yamal LNG export project in the Russian Arc- The baseline for this reduction is Russia’s
tic, and has plans for several more, even larger, emissions in 1990, when they were at an all-
plants in the region. time high as a result of Soviet inefficiencies and
In a statement, the company said cuts to lack of environmental concern. The USSR col-
global emissions could be achieved by expand- lapsed the following year, causing emissions to
ing LNG’s role in the energy mix at the expense plunge. Greater efficiency and increased regula-
of dirtier sources of power such as coal, fuel oil tions since then have prevented emissions from
and diesel. returning to former levels.
Week 34 28•August•2020 www. NEWSBASE .com P17
